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Wacker Chemie misses Q4 EBITDA expectations

The logo of Wacker Chemie AG is seen at its manufacturing plant in the south-east Bavarian town of Burghausen

(Reuters) - Wacker Chemie's fourth quarter earnings before interest, taxes, depreciation and amortization (EBITDA) fell short of consensus expectations, the German chemicals group said on Monday.

According to preliminary figures, the Munich-based firm achieved an EBITDA of 360 million euros ($390.67 million) for the fourth quarter, 14% less than forecast according to a Vara consensus, which saw it at 420 million euros.

Wacker Silicones saw its yearly EBITDA rise by 58% year-on-year, climbing to 875 million euros, thanks to better selling prices for silicones as well as an ever-increasing share of high-margin speciality products in its portfolio, the firm said.

Wacker Chemie, one of the world's biggest suppliers of solar-grade polysilicon, has benefited from strong demand and high prices for the material, the supply of which has growin tighter due to production issues and maintenance shutdowns.

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The chemicals maker increased capital expenditures to 545 million euros in 2022, up more than a half year on year, focusing on expanding the capacity of the firm's four business divisions.

($1 = 0.9215 euros)

(Reporting by Tristan Chabba and Andrey Sychev in Gdansk, editing by Rachel More and Thomas Escritt)